Sports Medicine and Orthopedic Soft Tissue Repair Medical Device Companies to See a Stable, High-Growth Market: Led by Arthrex, Smith & Nephew
Vancouver, BC (PRWEB) January 19, 2015 -- According to iData Research (http://www.idataresearch.com), companies like Arthrex are anticipated to continue to dominate a range of sports medicine and soft tissue repair medical device markets. However, smaller companies catering to niche product areas keep this market diverse and competitive.
“The soft tissue repair competitive landscape is highly fragmented,” explains Dr. Kamran Zamanian, CEO of iData. “We can see this represented in the collective market share of the leading U.S. tissue banks.” When combined, Musculoskeletal Transplant Foundation, RTI Biologics, AlloSource, Community Tissue Services, the University of Miami Tissue Bank and LifeNet Health account for just 10% to 20% of the total annual revenue generated in the orthopedic soft tissue repair market.
However, the markets for soft tissue repair present significant opportunity, even for smaller, niche companies. The majority of segments within this market are projected to see consistent, double-digit growth rates in the years to come.
Other key findings from iData’s report entitled U.S. Market for Orthopedic Soft Tissue Repair and Sports Medicine include:
Surgery a High Priority for Many
Sports-related injuries and other injuries treated with orthopedic soft tissue repair products do not readily heal without surgical intervention. As a result, delayed treatment results in a continued loss of functionality. This can mean a significantly decreased quality of life and lost wages, especially among elite-level athletes. This sort of healthcare investment is often seen as important, and not optional.
New Technologies Driving the Market Forward
In many areas of orthopedic soft tissue repair, traditional devices are being supplanted by newer versions that offer improved clinical benefits. For example, knotless suture anchors are often used for rotator cuff repair. These devices carry a price premium over standard devices but simplify and expedite the surgical procedure.
Further Information
The iData report entitled U.S. Market for Orthopedic Soft Tissue Repair and Sports Medicine includes market segments for anterior and posterior cruciate ligament (ACL/PCL) reconstruction and fixation products, meniscal repair devices, cartilage repair therapies, shoulder and labrum repair devices, hip arthroscopy devices and biceps tenodesis devices. Full iData reports provide a comprehensive analysis including procedure numbers, units sold, market value, forecasts, as well as detailed competitive market shares and analyses of major players’ success strategies in each market and segment.
About Procedure Tracker
Procedure number data is available from iData’s Procedure Tracker service. Subscribers can define and analyze procedure data segmented by State, region, hospital, surgery centre, and physician. A customizable dashboard provides sorting functionality for further analysis and research, regarding procedure data for iData’s U.S. Market for Orthopedic Soft Tissue Repair and Sports Medicine report.
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting goup focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Diabetes Drugs, Diabetes Devices, Pharmaceuticals, Anesthesiology, Wound Management, Orthopedics, Cardiovascular, Ophthalmics, Endoscopy, Gynecology, Urology and more.
Caroline Lau, iData Research, http://www.idataresearch.com, +1 604-266-6933 Ext: 215, [email protected]
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